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billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the possibility that g.o.p. lawmakers may put their oath of office above a promise to antitax increase organizer. good evening. >> good evening. the republican sources say they are offering a balanced approach of significant spending cuts and some revenue without boosting tax rates. >> we have been responsible as we remain firm on this point. no tax increases now for promised spending cuts that won't materialize later. the american people have seen that game before. they won't be fooled again. >> the top republican on the senate budget chel explained the g.o.p. plan to bring in more money. >> eliminate all kind of loopholes and gimmicks and increase revenue without raising the top marginal rate. that most economists say would hurt the economy if we were to do it. >> the republicans are being confronted in the
medicare, precious medicaid, precious social security, and precious defense, those people are phony. >>neil: they are afraid. they will take their money off the table. they are afraid. >> business is not a good environment. there is no reason for any businessman to want to grow its business, advance its business, hire more people, create more problems. >> only 3 percent of small business will be hit. but that is 50 percent of the profits that generate the jobs. small businesses are fretting because they have not had adequate representation in this discussion. everyone is in washington but where is the small business representation? where is their voice at table? where is their taxation and representation? where is it? >>neil: that is where we stand in the middle of a pile of green we don't have that we will have less of and if we don't do something by december 31 we will have uncertainty killing the economy. >> i have asked 9 -- 2,000 business owners how many of you have jobs but are not expanding because of the uncertainty? every hand goes up each time. >> people are sitting on the side li
everybody but it is major, massive defense cut, defense cuts which the defense department is warning you can't do. it is payroll tax cut. it is jobless benefits will be cut. reimbursement rates for doctors who take medicare patients with the so-called doc fix. that will jeopardize potential care according to dr. seeing he will if. there are all sorts of things, it is easy to say, let it happen but, you know, it is hard to believe they will find the split call will they haven't been able to find because we start to dangle off the cliff as opposed to just approaching it. am i wrong? >> lawmakers do love to do nothing. they're very good at that. in this case doing nothing has some appeal. the consequences, speaker of the house john boehner and the president both know what happens in the future for them in what they're doing will be made much harder if they can't demonstrate they have the will now to at least get a framework deal together. that is just the way that that is. but the problem that they face is that very liberal democrats and very conservative republicans are going to look at them a
demonstrate a willingness to pay for our national defense, rather than put it on the credit bar? mr. speaker, let's get on with the big national debate and finally focus on jobs and getting the economy going as we reduce our long-term deficit. thank you, mr. speaker. with that, i reserve the balance of my time. >> the jaume and from wisconsin. -- the gentleman from wisconsin. the gentleman from wisconsin reserves the balance of this time. the gentleman from maryland. >> i yield one minute to the gentle lady from wisconsin. >> thank you so much for yielding. so many of my colleagues have said that it was necessary to storm the white house and take the country hostage in the name of their grandchildren. i wanted to go on record talking about what i want from my grandchildren. i want head starts for my grandchildren. i want to early childhood education. i want my kids to go to a school where they can participate in the science fair. i want immunizations for them. i want research done for food safety to make sure this chicken nuggets are safe. i want clean air and clean water for them. i want jo
't happened yet. we'll be joined by tim mack, a defense reporter for politico. thank you for coming on to the show. i want to is ask you tim is president obama, he's oversea overseeing all this. is he doing a good job? are we able to judge whether his job, even sending clinton from afar, has done the right thing? >> we know that the president has been involved in the negotiations. he has talked to egyptian president morsi at least three times over the a last 24, 36 hours. we know he's involved accepting secretarysecretary of state hillary clinton. she broke off her asia trip to go over there and channel some that have diplomacy that we haven't seen in a long time. >> you brought up morsi. i find his role fascinating. taking over egypt after the arab spring. mubarak was an ally to the country for so long, coming out of the camp david accords where sedatesadat was. >> i think from the american perspective egypt is a necessary broker. they consider hamas a terrorist entity. the u.s. does not directly deal with hamas. in order to be a broker between both sides the u.s. necessarily needs
, a republican nightmare will occur. all income tax rates will go up and defense spending will be cut by 600 billion. other spending, some of it dear to republicans, will also be cut by another 600 billion. the fiscal cliff is much scarier to republicans than it is to democrats. so, the president and his allies must continue to make republicans believe they are willing to go off cliff. senator durbin simply said if we do go off the cliff or the curb on january 1st, we have to be able to quote stop economic growth to prevent us from stopping at the economic growth and hurting everyone. in other words, we have to then quickly craft a legislative deal that can stop the damage to the economy that would occur if we went off the cliff and stayed off the cliff. john boehner recognizes that the fiscal cliff is the president's leverage, but boehner believes he has leverage, too. politico reported this morning president barack obama made a demand of how john boehner near the end of their first white house meeting on the fiscal cliff, raised the debt limit before year's end. boehner responded, quote, t
convict casey anthony missed? her defense attorney, jose baez knew about it. of course, he didn't bring it up. he joins us live next [ male announcer ] every day, thousands of people like you, are choosing advilĀ® because helps you keep doing what you love. no wonder it's america's #1 selling pain reliever. you took action, you took advilĀ®. and we thank you. starts with ground beef, unions, and peppers baked in a ketchup glaze with savory gravy and mashed russet potatoes. what makes stouffer's meatloaf best of all? that moment you enjoy it at home. stouffer's. let's fix dinner. a hybrid? most are just no fun to drive. that moment you enjoy it at home. now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. and with my bankamericard cash rewards credit card, i love 'em even more. i earn 1% cash back everywhere, evertime. 2% on groceries. 3% o
the national defense he headquarters. israeli police confirm that an explosive device detonated but say it was not a suicide attack. the white house is calling the attack against israeli civilians outrage o outrageous. the united kingdom is condemning the, quote, shocking violence. the eight-day conflict between israel and hamas has claimed the lives of more than 130 palestinians and five israelis. despite hopes of a ceasefire, tuesday ended as the conflict's deadliest day. secretary clinton who rushed to the region to try to prevent an escalation of the conflict is in cairo to meet with egyptian president mohamed morsi who is key to brokering any deal. it's her final stop on an emergency round of shuttle diplomacy that also include meetings in israel and the west bank. for the latest nbc's stephanie gosk joins us and ayman mohyeldin. a report of a tel aviv bus explosion. is there any indication that the israelis now are looking at possibly having a short-term truce or want to hold out long er for a longer deal? >> reporter: well, we don't have a truce. there's a lot of talk yesterday t
shakespeare. and that she killed him in self-defense. you know what? one of those stories would have worked, dee dee. but not all four. >> beyond that, you've got her statements. you've got her actions. you've got ballistics. >> you've got a gun. >> you've got surveillance. i mean, you have just about every type of evidence that would be relevant in a case here against her. very often, we will be covering these cases and say, there's no motive. there's a motive here. there's no ballistics. we have ballistics here. it goes on and on and on. >> right. >> this is going to be a very tough case. >> sounds like a slam dunk case for the prosecution. >> this is a very strong case for the prosecution. >> this is florida. you never know what's going to happen. after the tot mom, casey anthony verdict, i don't know what's going to happen. i've got to say, she is very convincing. now, her lawyer is not going to want her to take the stand, i can tell you that. she's going to try to claim mental incompetency a couple weeks ago. the judge swatted that down. she might overrule her lawyer and take the stand
yet. we're going to be joined by tim mack a defense reporter for politico. tim, thanks for coming on to the show. you know, i want to ask you tim, is president obama -- he's overseeing all of this. do we know he's doing a good job here? are we able to judge whether or not his response to this from afar by sending clinton there was the right thing? >> well, what we can say is the president has been involved in the negotiations. he's talked to egyptian president morsi at least three times over the last 24, 36 hours or so. so we know that he's actively involved and sending secretary of state hillary clinton over there, does send a message like michael hastings was saying earlier, does send a message they view this as a priority. she broke off her asia trip just to go over there and engage in the diplomacy we haven't seen in a long time. >> you brought up morsi. i find his role in all of this fascinating. i mean here, taking over egypt after the arab spring, an ally whether we approved of what he, did he was a
that. mccc. >> and for, what kind of -- defense was the other team playing. 138 points. what's the record, wilt chamberlain. 100. >> 108 shots. >> congratulations, kid. >>> coming up, a taste of the season why products on your supermarket shelves look very different but taste exact low the same. >>> but before that, investigators say they have busted a plot that was hatched by some home grown terrorists. the man who inspired they deadly idea and why the fbi can't do a thing to stop them. you're watching "world news now." [ female announcer ] with daily moisture renewal from pantene. the pro-v system nourishes to lock in moisture erasing the damage of 100 blow drys for a silky, soft touch. think only salon brands can do that? i took the dare...will you? [ female announcer ] daily moisture renewal from pantene. hair so healthy it shines. >>> welcome back, everyone. something of a wake-up call as we enter the by >>> welcome back, everyone. something of a wake-up call as we enter the busy holiday travel season. there are still those who want to do us harm. >> the newest example a
, in terms of the military supplies, the security, there is no is really, not the defense minister, the prime minister, none of the people who complain about obama as putting pressure on israel, none of them disagree with the fact that obama, the obama administration has been the most supportive administration of any on a level of strategic and military cooperation. when you look at this war in comparison to 2008, there was nearly unanimous support for israel. all of the senators, members of the house were saying, israel has got to defend itself. and when the israelis wanted the united states to go in and help for the cease-fire, the secretary of state what they are despite the fact this was not a prior issue. the issue is can the united states support israel, and at the same time be an effective a broker that takes arab interests into account? that has been the issue. it is not the level of support. host: richard, fla. on our line for independents. caller: it has been said that the muslim brotherhood has the same goal as al-qaida in the sense of wanting to establish a radical islamic governm
to give up entitlements to some degree and the republicans have to lighten up on its defense. we spend more than the top ten countries in the world on defense over $1 trillion. so i think we spend six times more than china currently. like russia may have done in the old days, we may spend ourselves into obsoleteness. >> if we avoid the cliff are we putting a band-aid on bigger issues such as social security spending? obviously, something needs to be done to fix this for the future. >> right. the priorities of our country, who pays for it and how much government to we want? that's lining up republicans on one side, the democrats on the other. the differences have never been so stark. it's kind of a shirts and skins game in washington, as you know. 50/50 and this election was not exactly a mandate. you've got the same players in place, boehner and can'ter and pelosi, obama and reid. >> you're confident that we'll get it done? >> i'm positive about the american people. at some point in time we have to do this. i'd rather ease into it than have an event that makes us have to do it. we're t
as it is a spending problem. >> we heard so much about sequestration in terms of defense cuts. i get entitlements. i get the issue when it comes to taxes. you look at the amount of money this country spends on defense, is it an area where republicans say we can make cuts there as well if you want cuts on entitlements? >> absolutely. we need to make cuts anywhere we can. there are efficiencies we can find in military spending. that doesn't mean that the kind of sequestration called for by the budget act of 2011 is the way to do it. those cuts fall disproportionately on the department of defense and i think that's a problem. i've got a bill in the form of my cut, cap and balance act of 2012 that makes sequestration unnecessary because there are more cuts, some in defense and others in other areas. i have another piece of legislation that i have not yet introduced but am working on. targeted kus so we don't have to carry out all of the cutting in the area of defense or disproportionately in the area of defense. >> i want to bring in u.n. ambassador susan rice, who has a meeting on the hill in the next
death of a teenager with the gunman claiming self-defense now. >>> back on the hill, u.n. ambassador susan rice trying again today to win over republican lawmakers after round one leaves three of them unconvinced. good morning. welcome to "early start." i'm christie romans in for john on assignment. >> i'm zoraida sambolin. 5:00 a.m. on the east. half a million bucks, what do you think? are you in yet? the powerball jackpot tonight is the second largest in lottery history. that's a lot of office pools. we are in on it over here and have defied serious odds to get here. 16 consecutive powerball rollovers without a winner yet. and that streak is likely to end really soon. a lottery official calculates a 5% chance no one will win tonight if sales spike as they are expected to. and if you do happen to win the cash value of the jackpot, it now stands at 324 million dollars. but time for a quick reality check, your odds of winning are 175 million to 1. alison kosik closely monitoring powerball fever is live from new york's times square this morning. the odds are not good but the fever is r
. >> the iron dome, israel's missile defense system is working phenomenally. many of its rockets, because of this iron dome, are not hitting their targets. could we see more attacks on the streets by terrorists, like in this bus attack? >> that's true, iron dome is an amazing success story, first anti-rocket device in history to actually work in warfare. we've taken down about 90% of the terrorist rockets that would have hit in our cities. they're going to hit outside the cities. and, yes, the terrorists will try anything to get at our civili civilians. we've seen it before. many, many bus bombings like this. we've all lost friends. i've lost a close family member in those bus bombings. they're very, very close for us. >> do activievents like this complicate secretary hillary clinton's efforts? >> they certainly don't help. where terrorists in gaza cannot open fire on us every week and paralyze half the country when they will. also the goal is to prevent iran from smuggling advanced weaponry and rockets into gaza that the terrorists then fire at our civilian. >> israeli ambassador to the
was intercepted by the iron dome missile defense system. if everything remains this relatively quiet until 2:00 eastern this afternoon, the gaza border crossings will open. rallies opened in the streets as they celebrated what they call a victory over israel. the prime minister says he's dedicated the victory to that man, ahmed al ja'abari, killed in that air strike. as you know, that air strike inciting the fighting. hopeful that the cease fire will hold? >> reporter: the longer it does hold, as each hour goes by, people do grow more hopeful it will, in fact, be sustained. people are very aware that at this point in time it is still a very short-term solution as the looming issue of a long-lasting peace deal does still remain elusive. for the first time since this all began last wednesday, we are not seeing deserted streets in gaza. we're not hearing air strikes, various artillery rockets being fired in the distance, not hearing the wail of sirens. quite the contrary. people were in the streets since the cease fire was first announced last night. earlier, after midday prayers, chanting for
's not vince lombardi. and rex makes it sound like he's won five championships. rex, as a defensive assistant, that doesn't count as a championship ring. but sparano was a bad hire as offensive coordinator. he's an offensive line coach. he's not an offensive coordinator. obviously tebow has caused some distraction. and sanchez, some. >> some. >> some. it's too much. too much. >> sanchez is awful. >> it's going to be a tug-of-war between rex ryan and mike t tanenbaum playing out behind the scenes. >> i think woody would be afraid to fire those two. i think he's joined at the hip with tanenbaum. >> that was a public humiliation, the entire nation watching after thanksgiving dinner, everyone saw that. >> it's the funniest play of all time watching sanchez fumbling, runs into the offensive lineman. it's actually funny. >> it's a broken play. so he misreads the play after calling it in the huddle five seconds before. he gets confused. he runs into the posterior of a lineman. >> it's funny. >> falls down and fumbles the ball! >> the posterior of the lineman was thrown into him by vince wilfork. it'
that. >> why do you think that is? >> they're feeling very defensive now, and so, like, i can only assume that that is the reason why they declined. >> the banks are defensive because all 50 state attorneys general want to punish them. the states are seeking about $20 billion in damages for what they say is the irresponsible, perhaps criminal way that some mortgage companies handled what is, for most folks, the most important investment of their lives. >> in march 2012, the us government, 49 state attorneys general, and the nation's five largest mortgage lenders announced a $25 billion agreement over alleged foreclosure abuses and asked a federal judge to approve the plan. as part of that settlement, lynn szymoniak, who filed a whistle-blower lawsuit on behalf of the federal government, will receive $18 million. [ticking] coming up, the complex financial instrument that helped down the u.s. economy. >> the idea that you could lend money to someone who couldn't pay it back is not an inherently attractive idea to the layman, right? however, it seemed to fly with people who were makin
in a nearby embassy warnedm to take cover. the taliban says it is responsible. >>> secretary of defense leon panetta said the fight against terrorism will require an ongoing effort. he said u.s. forces decimated al qaeda's leadership but the threat has not been eliminated. >> this campaign against al qaeda will largely take place outside declared combat zones. using a small footprint approach that includes precision operations, partnered activities with foreign, special force operations and capacity building so that partner countries can be more effective in combatting terrorism on their own. >> panetta also said associated al qaeda groups are making in roads. >>> republican lawmakers are stepping up their opposition to the nomination of susan rice to be the next secretary of state. they said she was misleading about who was behind the attack on u.s. consulate in benghazi. terrorism was cut out of talking points. the direct of national intelligence, the dni. >> reporter: u.n. ambassador susan rice relied on those talking points during an appearance on "face the nation" where she called it a
. overnight we learn that israel's defense minister, ehud barak is resigning his post. that's effective come january. that development comes as delegations for both israel and hamas meet in cairo today. they're meeting with egyptian officials to try to advance those cease-fire talks. and egypt's president mohamed morsi will meet today with judges to explain his edict barring them from overturning any decision that he makes or any laws that he imposes until a new parliament is formed. reza sayah is in cairo this morning. let's start with mohamed morsi, please. >> yeah, good morning, soledad. a few thousand protesters still here in south tahrir squares, especially those who camped out over the past several days, still seeing some clashes. most of them triggered by what seem to be teenagers and twenty somethings out here looking for trouble. we also saw our first fatality of the protest last night on sunday in a northern city where a 15-year-old member of the muslim brotherhood youth movement was clubbed to death. at this point the brotherhood doesn't seem to be using that fatality as a rallyin
thought there was an interesting article. dave cote from honeywell, the guy who runs the defense sector there -- >> is he french now? >> no, what's his name? >> very sophisticated. >> they were talking about how defense has to be cut and i think that's an important statement. i think this whole thing starts with the defense cuts and everything else will fall in line. i do think we'll get some resolution on this, whether it spills into the new year doesn't matter. i think everybody is preparing for the imminent tax hike anyway. it's just going to come. on the issue of dividends and capital gains, that will be hung out there, will we go up to the ordinary, i don't think so. i think it will be some compromise. it's not that i'm hoping that, but i think that there will be. >> does it matter if we -- so we cave. we're afraid, we don't want anything bad to happen. so we're going to raise some taxes. we're going to cave, but we're not going to really cut spending, we don't want to hurt anyone. this is what we do and no one could fail. you know, a couple years ago -- is it bad that we don't tak
nominee for executive-branch positions. but if that's what you want, that's the defense eye just read my talking points. that's the way she will be as secretary of state, too. >> maybe we should have written submissions and not have people go on television -- >> why have a secretary of state? why not have -- the libya arrest officer make the policy. >> the first question i would have asked is simply, how do you know that? why do you know that? especially in the face of something so bizarre, when it was so obvious eye think, not just with 20/20 hindsight. i think most people thought it was a terror attack. so if i were being briefed and someone said it was a video special a protest, i would say, how do you know that? it doesn't look that way to me. how do you know that? >> it's a question of what is served up is the alphaand the omega or whether that's the beginning of the discussion. i got into my fair share of trouble with the bureaucracy, this was the beginning of the conversation, not the end of the conversation. i want to know, why didn't hillary clinton go on the five morning talk s
positions. but if that's what you want, that's the defense, as i just read my talking points, that's the way she'll be as secretary of state, too. >> well, maybe we should have written submission to not have people go on television to explain these things. >> why have a secretary of state? why not just have the -- >> greta: the first question i would have asked, if someone was briefing me, how do you know that? >> exactly. >> greta: especially in the face of something so bizarre, it was so obvious. not just with 20/20 hindsight. most people thought it was a terrorist attack at first. if i was being briefed, someone told me it was a video, a protest, i would say, it didn't look like that to me, how do you know that? >> what's served up as the bureaucracy you take as the alpha and omega or it's the beginning of discussion. for me, i certainly got in my trouble with the burr recreation ibureaucracy, itwas the beginnie conversation, not the end of the conversation. there's other questions here. i still want to know, why didn't hillary clinton go on five morning talk shows? that question still ha
to fund a defense and not increase revenue. with the cliff that we're faced with, we're talking about maybe a 50% reduction in the defense department, and so, you have to talk about how you're going to pay for all of this. >>, and lastly, it was so interesting, we're talking about fiscal cliff. we're talking about an avalanche. we're talking about an austerity problem. this is very strong language, very scary words. >> yes. >> the american public is not going to accept anything short of some sort of a compromise. are those words sort of floated out there something to manage expectations, possibly? >> well, you know, the press has basically coined the fiscal cliff and promoted the idea of this catastrophic position that the congress finds itself in. i think that what the public is looking for is they're looking for reasonable, sensible legislators to talk about what is possible. they're looking for both sides to be willing to compromise. but one thing we know for sure, the president has a mandate. the people have spoken, and they have said they want everybody to pay their fair share of
details are being worked out, the violence continues in gaza. overnight, israeli defense forces attacked again about 100 targets in the gaza strip. today, the militants within the gaza strip have launched about 30 rockets into israel, so the violence continues, even though we seem to be getting more and more people involved in making a cease fire come to a conclusion and end this violence as we begin this second week of this conflict. ross? >> thank you for that. we'll talk to you a little bit later. chapman bell from tel aviv. >>> officials from six world powers are meeting in brussels to plan for a possible new round of talks with iran to avert the threat of a military conflict. also, japan's trade deficit has widened, exacerbated by territorial tensions. now we have the details from tokyo. >> reporter: hi, ross. japan's finance ministry reported a bigger than expected trade deficit of $6.7 billion for october. that's a record for the month and marked the fourth straight month of red ink in japan's trade account. exports fell 6.5% on the year to $62.8 billion for the fifth month in a r
, this comes at a critical time. not only is secretary of state clinton leaving. also, the secretary of defense, leon panetta. and of course david petraeus out at the cia. all these vacancies are happening when there's a lot of hot spots in the world bubbling up. >> there are, george. this is a critical time. the election may be over. but look ahead. you have iran, who is trying to acquire a nuclear weapon. you have north korea, there's satellite photos just out showing that north korea would like to try to test another long-range ballistic missile. and you have afghanistan. this is such a critical time in afghanistan. they're putting together drawdown plans. and what the u.s. does after 2014. >> the big decision there is how many troops to leave in right now. and then, how quickly to ramp down, going to 2014. >> how quickly. and general john allen who is under investigation because of the e-mails involved in the petraeus affair. >> martha raddatz, thanks very much. >>> we get the rest of the top headlines from josh. >> good morning. we're going to begin with the big ruling affecting big tobacc
obama is not in defense on that. stuart: buy now to avoid cap on gun sales later? we've got the judge sitting here. i can't resist. can someone say on political grounds you can't come in my store? >> it depends on where you are. in our home state of new jersey, you cannot because there's a statute that prohibits, a store, a public accommodation, a hotel, any business from which the public is inviting from discriminating on the basis of political views for people coming on the premises. arizona doesn't have such a statute. you have a freedom to deal wither who you want. in -- you have the freedom to deal with whoever you want in arizona. stuart: do we give up our privacy when we text people, when we e-mail, the voice mails we have, could those messages be used to invade our privacy and used in court against us? obvious question for the judge who p thats to be sitting here. he is the author of the book theodore and woodrow. how private are smart phones? >> i'm worried that i and people who think the way i do that the right to privacy is a fundamental right are losing this battle. it se
defense under control and spend these wasteful wars have added trillions. that's one place. we're going to have to get the health care costs down and right now our health care costs are between 50% and 100% higher than in any other country. and so we have this great opportunity to reduce health care costs, but that requires pretty deep reform that we've ducked so far because that requires going after the private health insurance industry which has been reaping huge profits. so we have to get the health care costs down. that will save a lot on the budget. >> okay. thank you very much. and, rick, let's eat now. the food snob diet. >> i do actually think -- >> that should have been the cover. >> maybe that should have been the cover. >> give peas a chance. >> i'll consult with you guys the day before. >> that's nice. that's good stuff right there. >> i have to talk about it here. >> we'll be right back. >> have a great thanksgiving. you won't find a "home rule" on every corner, a "stag provisions" down every block, or a "hugh and crye" in every town. these are the small businesses of ameri
the intelligence community. last night, senator graham rejecting her defense but says he's open to today's meeting. >> she asked to meet with us and now we'll listen to what she has to say about her role in benghazi. the more i know about benghazi, the more upset i am that the consulate was even open on september 11th. when you look at the history and the reporting coming out of libya about the dangers, it should never have been open or heavily reinforced. after the attack, i think the story we were told about a spontaneous event caused by video where a mob turned into a riot is less credible than ever. >> she reportedly called the meeting. seems like a smart move. what do you think? >> well, i think it's a smart move for john mccain to take the meeting. they're boxed in. this is not a fight they want right now. it was a stupid fight to pick. they put themselves into a corner and now they've got to figure out how to get out of that corner. and they're going to do it. they're going to talk to her and senator mccain will be gracious to her. and, again, all the questions that are being asked about be
, put up some of the sector gainers and you'll see, housing, gold, cyclical, defense and there's the cbo golds index, too. this is all risk on trades here, so the market is giving a breather. i spent some time today calling around to traders saying when is going to be the cliff you're worried about. when are you going to stop selling rather than the buying that's been going on. here is the sense i got from people. number one, congress has got a two-week good will period. that seems to be the consensus of most of the traders. a for the next two weeks, her l essentially, congress can negotiate a deal. the markets are going to be nervous if there's no indication of a deal by the week of december 10th. that's about the cut off where most say if we don't see an indication, we're going to get nervous. not priced in at all is no deal. going over the fiscal cliff, that is not priced in at all into the markets and everyone says we'll see a big, steep drop off. what do they need? i asked traders, what's the down payment of the deal. there's three or four elements. this is the minimum we're going
no need to respond. in other words, israel's whole military operation here was purely defensive. if they hadn't had been shooting at us, we wouldn't have had to call up our reserves and hit at gaza. we will be very happy if we can have a status quo, if the situation can be quiet, and if the civilians on both sides of the frontier will enjoy a period of unprecedented peace and quiet. >> if all does remain quiet, we're hours from that second round of negotiation, really on the most contentious issue, those very tight border crossings in gaza under this 7-year-old now embargo. what makes this time, what makes this round of negotiations any different that before? >> you know, any where over the last two, three years, israel has been relaxing restrictions. we'll continue to that process and now talk to the egyptians about that. but israel imposed restrictions for a reason. you had this hostile fire into israel. they were shooting rockets into our cities and trying to kill our people. is it really fair to expect that you would have normal trading relations -- >> but if that does stop,
massive layoffs. >> lockheed martin is a safer cow. there's got to be fat in the defense industry. >> what about aetna who says this is going to lead to layoffs to the point where it increases their medical costs. so they're going to lay off people. >> we should introduce our nobel laureate. >> we do have a nobel laureate at the table. robert engel is a nobel laureate in economics who won the prestigious award in 2003 for his work analyzing volatility. he's also a professor of finance at nyu's school ofs. while we have you, do you have views on the fiscal cliff? >> you know, the fiscal cliff is on everybody's radar, but i think it's not the only thing that needs to be on our radar because i think that the situation in europe could actually turn out to be just as damaging for the u.s. economy as the fiscal cliff. >> is that a picture of us if we don't handle our problems here too? is that the ghost of the future? >> i think in both cases, we're talking about politics getting in the way of economics. i think the fiscal cliff could be dealt with exactly as you said. if the politics weren't su
-powered criminal defense lawyer abbe lowell to correct what she says are lingering misimpressions. in a letter to the florida bar association lowell says a tampa lawyer who once represented the kelley family acted unethically by making public comments about her two weeks ago, suggesting she was trying to be a social climber at a florida air force base. >> i understand that -- that there was an effort made to infiltrate, to use a word of art, the deal and the brass. >> reporter: in response, the lawyer, barry cohen, says nothing he said was based on the legal work for the kelleys, and kelley and her sister are, quote, architects of their own agony and in another letter abbe lowell asks if there's a leaked investigation to find out how kelley's name became public in the first place as the recipient of paula broadwell's e-mails. a source close to the kelley family insists jill kelley is not trying to keep her name in the news, and the source calls simply false any suggestion that she had an affair with general petraeus or general john allen. never happened, the source says. in another development
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